The Rules for Recording Accounting Transactions Include All of the Following

question 151

Multiple Choice

The rules for recording accounting transactions include all of the following EXCEPT:

• A) Every transaction's net amount on the left side of the equation must equal the net amount on the right side of the equation.
• B) Total assets must always equal total liabilities plus total equity.
• C) Every transaction affects the financial statements of the business.
• D) Both sides of the accounting equation must be affected.